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New York, USA and Bangalore, India – April 22, 2021: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced its commitment to achieving Net-Zero Greenhouse Gas (GHG) emissions by 2040 in line with the objective of the Paris Agreement to cap temperature rise to 1.5°C.
Wipro, while unveiling its pledge on Earth Day, also set an intermediate target of a 55 per cent reduction in GHG emissions by 2030 in absolute emission levels compared to its base year of 2016-17 (April-March).
These targets are based on the globally accepted Science Based Targets initiative (SBTi) and reflect the deep decarbonization and operational changes Wipro will drive within its value chain to achieve Net-Zero within 2040.
Wipro will also defer offsets until the target year, underscoring its values-driven strategy and approach. The primary levers of decarbonization drive are:
(i) Improving the energy efficiency of facilities for a sustained reduction in energy consumption.
(ii) Increasing use of renewable energy in owned facilities in India through private power purchase agreements and captive solar power.
(iii) Combining behavioral, technological, and collaborative approaches that help reduce the carbon footprint of air travel, commuting and purchased goods and services.
Over the last two decades, Wipro has steadily reduced its energy, water, waste footprint, and bio-diversity impact and remains steadfast in its commitment to a more sustainable, just and equitable society.
Wipro has always taken pride in being a responsible citizen of the world by engaging with its key stakeholders like customers, partners, vendors, employees and investors and by being an involved participant in finding solutions for important ecological and social issues in our communities and civil society.
Rishad Premji, Chairman, Wipro Limited said, “Climate change is a defining challenge for humanity. Business must be at the forefront to address it. Wipro’s climate change program goes back nearly two decades, and our Net-Zero goal further reaffirms our commitment. Our approach emphasizes the importance of not just reaching that goal, but doing so in a way that is aligned with Wipro’s core values of integrity and business responsibility.”
Thierry Delaporte, CEO and Managing Director, Wipro Limited said, “Wipro has long since built ecological sustainability into its operations, and ways of working. Today we are committing to accelerate our actions to achieve net-zero, and the deep decarbonization efforts required to get there. We believe businesses like us have a significant role to play in achieving the global Greenhouse Gas reduction targets.”
Wipro is committed to helping its customers realise their Net-Zero goals by working collaboratively and leveraging its technology and domain expertise in many areas of climate change like GHG assessment, Climate and Net-Zero Strategy, and sourcing and supply chain strategy, among others.
The company has made significant progress in shaping and delivering “Green IT solutions” for high carbon-intensive sectors like Energy & Utilities, Manufacturing, Transportation and Consumer Goods. Helping customers exit their data centres, driving virtualization and public cloud adoption, smart grids, waste management, sustainable sourcing and packaging etc., are a few examples of such solutions.
Wipro is among the nine founding members of the ‘Transform to Net Zero (TONZ)’ coalition. Convened by Microsoft, the coalition includes some of the world’s largest companies, representing combined annual revenues of USD 500B and assets worth USD 800B. Wipro and the TONZ Coalition is committed to minimizing climate impact by helping members calibrate their Net-Zero goals and strategy and developing best practice assets.
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 190,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
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Assessment and Sustainability Reporting
The undeniable impacts of climate change, along with stakeholders’ increasing attention to corporate sustainability, compel all responsible companies to develop a sustainability strategy. Concurrently, the world has never had a stronger focus on labor and human rights. Companies that adjust their business model with sustainability at its core can help address these issues while positioning themselves to succeed as the world encounters new challenges.
Wipro’s holistic view of sustainability encompasses environmental (energy, greenhouse gas emissions, water, waste, pollution, land-use change) and social (health and safety, labor and human rights) considerations. These issues vary by sector and region, and they cut across organizational functions. But the first step in any organization’s sustainability journey is to assess its environmental and social footprint and identify areas for improvement.
Companies can take this step using a variety of robust assessment and sustainability reporting tools offered by Wipro:
Wipro’s sustainability expertise and partnerships enable companies to customize these services to address their unique needs. Below are some examples of Wipro’s customized work in this space:
Sustainability assessment is the first logical step to help craft a sustainability strategy. A large company has complex operations; an assessment will help pull together all the relevant information and identify opportunities for its sustainability program, from product design and marketing to renewables and sustainable consumption, among others.
Circularity and Transition to a Sustainable Future
Modern customers expect companies to be leaders of change. At the same time, legislators are introducing more-demanding regulations, while shareholders and financial institutions increasingly look at companies’ sustainability efforts to gauge its long-term stability.
Transitioning to a sustainable future is therefore on all companies’ strategic agenda. Enterprises can benefit from integrating circularity principles into their operations, particularly those that must navigate changing environmental, social, governance (ESG) regulations and are most vulnerable to challenges brought on by climate change.
Wipro helps companies define their sustainability goals, then create and implement sustainability strategies to make those goals a reality. With deep knowledge and experience tackling challenges such as public policy shaping, sustainable smart communities, stakeholder facilitation and decarbonization strategies, Wipro supports organizations with multiple strategies to achieve circularity and transition to a sustainable future:
These services are always tailored to answer a client’s specific challenges, although Wipro leverages its extensive cross-industry experience for each intervention
Operational Risk Management
Ecological issues impact companies in different ways based on industry and region. The most-common challenges – and those that companies will increasingly need to navigate – include carbon emissions; finite fossil-fuel availability; severe weather issues causing service disruptions; water scarcity; and the ability to improve utilization and reduce waste.
Although these issues impact all sectors, companies in the energy and utilities sector run particular risks in these areas. This is particularly troubling as regulations mandate companies in the energy industry to their reduce carbon footprint and become carbon neutral by 2050.
Wipro offers a variety of operational risk management tools to help utilities manage these issues systemically, empowering them to be more operationally resilient:
These services can be customized based on a company’s specific context. Here are some examples of Wipro’s recent risk-management work in the industry:
These services are critical to utilities. Although the sector may not be able to control weather-related disruptions, implementing the proper risk-management solutions can help alleviate customer hardship, mitigate potential reputational damage, minimize compliance violations and generate huge cost savings.
Minimizing carbon emissions is a critical step in reducing humanity’s overall ecological footprint. All companies will be affected by the transition to net zero, and decarbonization will be crucial. Yet decarbonization is a journey. Applicable across sectors, decarbonization is particularly important for large companies in the manufacturing, energy and utilities, buildings/facilities and transport and logistics industries.
Emerging digital technologies can help organizations decarbonize faster, in a less-expensive and smarter way, with advanced solutions empowering them to lower emissions and achieve their sustainability goals. But each enterprise’s decarbonization objectives and needs are different. Enterprises that want to make a difference need services that are both impactful and customizable.
Wipro believes technologies are not only part of decarbonizing a business, but also tools that can help companies move toward a goal of net-zero emissions. Wipro supports companies with several tools to help them achieve decarbonization:
Here are just a few of the ways Wipro has supported its clients’ decarbonization initiatives:
Energy management is an integral part of business transformation, and it drives sustainability commitments across the entire business value chain. Energy savings have a direct impact on a company’s operating costs and environmental impact, with key challenges including identifying alternate energy sources, ensuring environmental protection and improving efficiency. Alongside strong energy-management processes, addressing these considerations can form the foundation of a robust sustainability strategy as an enterprise’s journey toward net-zero emissions and greater corporate social responsibility.
Wipro support companies around the world with relevant energy management resources such as:
Energy-intensive companies that want to reduce energy and drive greater efficiency and productivity by adopting and operationalizing sustainable decision-making can see significant benefits. Among the most impacted industries:
Wipro has leveraged its deep expertise and ecosystem of cross-industry partners specializing in energy management to support clients in diverse ways:
Environmental Data Management
Complex regulations and business processes require global companies to leverage multifaceted and agile Environmental Data Management (EDM) programs and remediation services. Organizations also need real-time understanding of potential environmental issues that may require immediate action. Although EDM is applicable to all enterprises, large companies in the manufacturing, energy and utilities, buildings/facilities, and transport and logistics industries stand to benefit the most.
Wipro has long provided digital solutions and support for organizations needing key health, safety, security, and environment services – including many related directly to environmental data and remediation. By rapidly assimilating and distributing information based on EDM, laboratory information-management and asset-management systems, Wipro enables organizations to quickly and confidently manage environmental threats and risks using several environmental data management tools:
Each enterprise’s environmental data management is different, but Wipro’s services can be customized to meet specific business requirements. Wipro’s experience in these areas includes:
Managing environmental data is inherently complex. Fortunately, digitization and Wipro can help companies improve their operational efficiency, support transparent reporting, streamline regulatory compliance and avoid environmental penalty and accidents.
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